the swiss times
en_GB English
en_GB English de_DE German fr_FR French es_ES Spanish ar Arabic
the swiss times

UBS and Sumitomo Mitsui: Credit Suisse Japan Acquisition

UBS and Sumitomo Mitsui: Credit Suisse Japan Acquisition

Mon, Apr 8th 2024

A collaboration between UBS and Sumitomo Mitsui Trust, bolsters its market position by acquiring Credit Suisse’s wealth business in Japan.

Keystone/ENNIO LEANZA

UBS and Sumitomo Mitsui Trust Holdings have broadened their joint venture, UBS SuMi TRUST Wealth Management, by integrating Credit Suisse’s wealth management division in Japan according to a press release.

This acquisition marks a significant step in Japanese wealth management, bolstering UBS SuMi’s position in the industry.

Post-merger, UBS SuMi will incorporate Credit Suisse’s wealth management assets and advisors in Japan. This transition aligns with the UBS and Credit Suisse merger, expected to finalise by June 2024.

The integration solidifies UBS SuMi’s leading role in Japan’s wealth management sector, bringing in a wealth of expertise and resources from Credit Suisse.

Zenji Nakamura, President of UBS SuMi and UBS’s Japan Country Head, highlighted the acquisition’s significance, noting it as a reinforcement of their joint venture’s effectiveness and a forward-looking step in the realm of Japanese wealth management.

UBS’s global footprint as a premier wealth manager is further strengthened by this acquisition, with the firm managing over $5.7 trillion in assets as of the fourth quarter of 2023.

The integration of Credit Suisse’s wealth management business into UBS SuMi is more than a strategic expansion; it represents a commitment to excellence and confidence in the Japanese wealth management market’s growth potential.

Related Stories

Lidl Switzerland New Head of Real Estate: Tobias Eggli
Thumbnail

14 May 2024

Lidl Switzerland appoints Tobias Eggli as Head of Real Estate. With extensive experience, Eggli joins the executive...

Martina Bircher: Aargau SVP Wins Internal Vote
Thumbnail

9 May 2024

Aargau SVP National Councillor Martina Bircher to contend for the cantonal government's second seat....

Swiss Interest In Electric Vehicles Is On The Decline
Thumbnail

14 May 2024

Electric car adoption in Switzerland shows signs of stagnation, with slowing registration growth and diminishing...

Human Trafficking In Switzerland On The Rise: 317 New Victims Protected
Thumbnail

13 May 2024

FIZ reported 317 enrolments in its human trafficking victim protection program in 2023, with the majority being...

Geneva Cigarette Smuggling: British Man Faces Swiss Jail
Thumbnail

10 May 2024

Arrest at Geneva Airport: A British man detained for smuggling 4061 packs of cigarettes, as part of a rising trend in...

Foreign Minister Cassis Meets With The European Council
Thumbnail

14 May 2024

At the Council of Europe's meeting in Strasbourg, discussions will center on Ukraine support and AI regulation, marking...

Limmat River: Search For Missing Man Called Off
Thumbnail

9 May 2024

Limmat River tragedy: intensive search fails to locate 27-year-old man after eyewitnesses report a fall into the river...

Stay in Touch

Noteworthy

UBS Need To Increase Capital By 10-15 Billion Claims Reuters
Noteworthy
16 April 2024

UBS Need To Increase Capital By 10-15 Billion Claims Reuters

Swiss Media Empire TX Group Layoffs Staff
Noteworthy
7 May 2024

Swiss Media Empire TX Group Layoffs Staff
the swiss times
A production of UltraSwiss AG, 6340 Baar, Switzerland

Quick Links

Home Privacy GTC Contact Us About Us
Copyright © 2024 UltraSwiss AG 2024 All rights reserved